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Displaying items by tag: ICG Group

The pay package of Irish Continental Group’s chief executive, Eamonn Rothwell has jumped almost 250 per cent to €2.9 million last year, as the parent company of Irish Ferries, operating Ireland-UK routes and between Ireland and France, returned to profit after the pandemic.

In addition to Irish Ferries running its fledgling UK-France service on the Dover-Calais route that was launched in June, 2021 in the wake of Brexit, which has expanded into a three-ship service (see related story).

Last year, Mr Rothwell also collected €4.28 million of dividends on his 17.7 per cent stake as the Dublin based company, had handed out €24.2 million of such payments to shareholders, including an interim dividend for 2022.

According to ICG’s annual report, released on Tuesday, showed Mr Rothwell received a 20 per cent rise in basic pay last year – to €700,000. In addition the Chief Executive secured a €1.38 million bonus by way of restricted shares, which have a five-year disposal restriction.

As for share options, they were awarded under a performance share plan that was valued at €814,000, while other benefits amounted to €35,000.

The company which has its head office located in Dublin Port, earlier this month reported an operating profit of €66.7 million for 2022, a year in which revenues soared almost 75 per cent compared to pandemic-stricken 2021.

As The Irish Times (which has more) reports on the company that made losses at both operating and net earnings level in 2020 and 2021.

Whereas revenues at the maritime transport group had increased by €250.4 million to last year’s €584.9 million.

To consult the annual report in full, click this link.

Published in Irish Ferries

#FerryNews -Consolidated revenue at Irish Continental Group (ICG) operator of Irish Ferries, increased by 3.1pc to €288.9m year-on-year in the ten months to 31 October.

Total revenues writes The Independent for the group’s ferries division was €184.4m, a 1.4pc increase on the prior year. The increase in revenue was driven by an increase in the number of cars and container freight that ICG carried.

For the year to 11 November, Irish Ferries carried 385,100 cars, an increase of 2.2pc on the previous year. Freight carryings for the year to 11 November were 247,700 roll-on roll-off, an increase of 0.5pc compared with 2016.

Despite the weakness in sterling, ICG managed to partly mitigate revenues affected by sterling with improvements in its sterling-based costs. However the company said that fuel costs continued to be impacted by higher global fuel prices compared to this time last year.

Total revenues recorded in the group’s container and terminal division recorded in the period to 31 October amounted to €111.2m, a 5.9pc increase on the prior year. For the year to 11 November container freight volumes shipped were up 5.5pc on the previous year at 281,000 teu, with the rate of growth slowing to 3.8pc in the period since 30 June.

Units handled at the group’s terminals in Dublin and Belfast increased 3.2pc year on year to 258,400 lifts. For more on the maritime transport logistics operator, click here.

Published in Ferry

#LoLoTrade - Irish Continental Group (ICG) total revenue in Container (Lo-Lo) and Terminal Division recorded in the period 1 January to 31 October 2016 amounted to €105.0 million, an increase of 5.7% on the previous year.

For the year to 5 November container freight volumes shipped were up 5.3% on the previous year at 260,900*TEU , with the rate of growth slowing to 2.5% in the period since 30 June reflecting market trends.

Units handled at our terminals in Dublin and Belfast increased 18.8% year on year to 245,300 lifts, principally attributable to increased throughput at the Belfast terminal in the first half of the year. This reflects the award of the concession to operate the larger combined container terminal at the Belfast Victoria Terminal 3 which commenced in June of the prior year. In the period since 30 June with comparable operations the terminal throughput was 2.2% lower reflecting changes in customer schedules.

The effect of a weaker Sterling is not significant in the Container and Terminal Division due to the low level of net Sterling exposure.

 *TEU twenty foot equivalent container units

Published in Ports & Shipping

#Containers -  Irish Continental Group (ICG) container subsidiary Eucon and divisions operating terminals in Dublin and Belfast ports, have released half-year results for 2016. 

Revenue in the division was up 9.8% to €62.8 million (2015: €57.2 million), EBITDA increased to €6.6 million (2015: €5.5 million) while EBIT rose to €5.4 million (2015: €4.1 million).

Total containers shipped were up 7.4% at 152,700 teu (2015: 142,200 teu).

Containers handled at the Group's terminals in Dublin Ferryport Terminals (DFT) and Belfast Container Terminal (BCT) were up 39.6% to 144,800 lifts (2015: 103,700 lifts). DFT's volumes were up 5.0%, while BCT's lifts were up 149.3%.

The increase in Belfast arises from the commencement in June 2015 of the Services Concession to BCT for the operation of a combined container terminal at Victoria Terminal 3 (VT3).

Containership,  MV Ranger remains on time charter to a third party and is currently trading in north-west Europe while MV's Elbtrader, Elbcarrier and Elbfeeder remain on time charter to Eucon.

Published in Ports & Shipping

#HalfYearResults - Container and ferry operator, Irish Continental Group said the Brexit vote “shock” had a brief impact on tourism bookings. But they have since recovered as the ferry operator reported a 19.6 per cent increase in earnings for the first half, writes The Irish Times. 

Earnings before interest, tax, depreciation and amortisation (ebitda) rose to €30.5 million from €25.5 million for the same period last year. Cars carried on its division, Irish Ferries increased 5.5 per cent and roll-on, roll-off (RoRo) freight volumes gained 5.6 per cent.

Container (LoLo) volumes shipped during the period rose by 7.4 per cent, it said.

The result of the June Brexit referendum “had an initial negative impact on UK consumer demand”, said ICG. “The demand situation seems to have settled now as the initial shock of the referendum result has waned, although the negative sterling impact on yields remains.”

ICG said the outlook for the remainder of the year “is for a continuation of the overall business momentum seen to date, with some easing in our tourism revenues, growth in our RoRo and LoLo (lift-on, lift-off) revenue, and increased contribution” from chartering ships to third parties.

Total revenues rose by 5.2 per cent on the year to €150 million, while basic earnings per share increased 32 per cent to 10.3 cents. ICG will pay out a 3.82 cent dividend for the first half, up 5 per cent on its last interim dividend.

For more on the half-year results, click here.

Published in Ports & Shipping

#Q1figures2016 - Irish Continental Group (ICG) parent company of Irish Ferries, today has issued their Interim Management Statement which covers carryings and financial information for the first quarter of 2016, i.e. 1 January to 30 April with comparisons against the corresponding period in 2015. All figures are unaudited.

Consolidated Group revenue in the period was €91.4 million, an increase of 7.4% compared with last year. Net debt at the end of April was €25.9 million compared with €44.3 million at 31 December 2015.

There has been a good start to the year with trading conditions remaining favourable.

Ferries Division

Total revenues recorded in the period amounted to €51.6 million (including intra-division charter income), a 7.1% increase on the prior year.

In this seasonally less significant period for tourism, Irish Ferries carried 90,200 cars, an increase of 5% on the previous year, while freight carryings were 92,300 RoRo units, an increase of 8% compared with 2015.

The ropax ferry MV Kaitaki remained on charter, operating in New Zealand, while the four container ships acquired in late 2015 were fully deployed in the period.

Delivery of the recently acquired vessel "Westpac Express" is expected by late May. It is bareboat chartered to a third party for a firm period of four months with four further one year option periods and a final seven month option at the Charterer's option.

Container and Terminal Division

Total revenues recorded in the period amounted to €42.3 million, a 13.4% increase on the prior year.

Container freight volumes shipped were up 10% on the previous year at 103,400 teu (twenty foot equivalent units), while units handled at our terminals in Dublin and Belfast increased 54% year on year to 96,500 lifts.

Dublin Ferryport Terminals (DFT) throughput increased by 8% on the prior year.

Throughput at Belfast Container Terminals (BCT) increased by 257% reflecting the additional volumes following the award of the concession to operate the larger container terminal at Victoria Terminal 3 (VT3) which commenced in June of the prior year.

Published in Ports & Shipping

#ICGinterimStatement - The Irish Continental Group (ICG), parent company of Irish Ferries released today it's Interim Management Statement for Q3, the three months up to the end of September, 2015.

Current trading

In the seasonally most significant quarter of the year, the three months to 30 September, the Group's revenue rose 10.4% to €105.5 million (2014: €95.6 million) while EBITDA rose to €38.6 million, compared with €28.4 million in the same quarter in 2014. Operating profit in the quarter was €34.2 million versus €24.0 million in the same period in 2014.

Summer trading has been strong with volume and revenue growth across the Group's two operating segments; Ferries and Container & Terminal. Group fuel costs in the quarter were €10.3 million (2014: €14.8 million) reflecting lower commodity prices partially offset by a stronger dollar and the amendment of marine environmental regulations requiring the Group to consume more expensive fuel grades.

Volumes 1 July - 7 November

In the period from 1 July 2015 to 7 November 2015 total passengers carried increased by 3%, while cars carried increased by 5%. In the RoRo freight market, Irish Ferries volumes were up 8% in the period.

Container freight volumes for the same period were up 7%. Units lifted at our container ports at Dublin and Belfast were up 51%, with underlying port lifts up 5% after adjusting for Belfast VT3 concession volumes in 2015.

Year to Date Volumes

Cumulatively, in the year to 7 November 2015, total passengers carried were up 3% at 1,530,100, while cars carried were up 6% at 362,900. RoRo freight volumes in the same period were up 10% on last year at 231,500 units.

Container freight volumes were up 3% at 247,500 teu. Units lifted at our container ports rose by 29% to 207,900 lifts, with underlying port lifts up 5% after adjusting for Belfast VT3 concession volumes in 2015.

Cumulative Financial Results to 30 September (unaudited)

Group revenue for the nine months to 30 September 2015 was €248.6 million (2014: €226.3 million), up 9.9%. Revenue in the Ferries division was up 10.8% compared with the comparable period in 2014, while in the Container & Terminal division cumulative revenue was up 8.3% year on year. EBITDA for the nine months was €64.1 million (2014: €42.4 million).

Operating profit for the nine months was €50.6 million compared with €29.2 million in the same period in 2014. Net debt at the end of September was €20.4 million compared with €33.7 million at 30 June 2015. Subsequent to the quarter end the interim dividend of €6.8 million was paid.

Other Developments

Following the award of the Services Concession for the operation of a combined container terminal at Victoria Terminal in Belfast Harbour, the consolidation of our existing container volumes at Belfast has been completed. Progress on developing volumes through Belfast and harnessing the efficiencies of a single terminal are continuing.

As previously reported Afloat, the Group has concluded agreements (on 27 October) for the acquisition of four container vessels at a total cost of €24.2 million, with delivery expected to complete during December. These vessels will be offered to the market on a charter basis.

 

Published in Ports & Shipping

#ICGacquireLoLos – The Irish Continental Group (ICG) has entered into agreements for the purchase of four lo-lo container vessels for a total consideration of €24.2 million.

The following three vessels of the quartet are the MV Elbfeeder (built 2008), MV Elbtrader (built 2008) and MV Elbcarrier (built 2007). They each which has a capacity for 980TEU (twenty foot equivalent) and a gross tonnage of 8,246 tons.

This trio of vessels, Afloat understands are currently in operation on the group’s container shipping division EUCON which has more containerships in service on routes between Belfast, Dublin, Cork and Rotterdam and Antwerp.

In addition is the fourth vessel in the acquisition deal, the MV Jork Ranger (built 2005) which has a capacity for 803TEU  and a gross tonnage of 7,852 tons.

The MV Elbfeeder will be purchased from MS "Elbfeeder" UG (haftungsbeschrankt) & Co. KG . The MV Elbtrader will be purchased from MS "Elbtrader"GmbH & Co .KG. The MV Elbcarrier will be purchased from MS "Elbcarrier" UG (haftungsbeschrankt) & Co KG. The MV Jork Ranger has been purchased from MS "Jork Ranger" Bernd Becker GmbH & Co KG.

Under the terms of the purchase agreements title to the MV Elbfeeder, MV Elbtrader and MV Elbcarrier will transfer to ICG on delivery of those vessels which is expected in December.

Title to the MV Jork Ranger was transferred to ICG on delivery of that vessel. The purchase consideration is payable in cash on completion. The vessels will be offered to the market on a charter basis.

Published in Ports & Shipping

#ICGinterimStatement – Shipping, transport and leisure operator, Irish Continental Group (ICG) has issued this interim management statement which covers carryings from 1 January to 9 May 2015 and financial information for the first four months of the year, i.e. 1 January to 30 April.

It should be noted that ICG's business is significantly weighted towards the second half of the year when normally a higher proportion of the Group's operating profit is generated than in the first six months.

In the period to 9 May 2015, Irish Ferries carried 94,800 cars, an increase of 8% on the previous year. Total passenger volumes increased by 3% compared to the previous year to 418,600.

In the Roll on Roll off freight market, Irish Ferries carried 91,800 units, an increase of 11% compared with the same period in 2014.

Container freight volumes shipped were down 1% on the previous year at 100,000 teu (twenty foot equivalent units), while units handled at our terminals in Dublin and Belfast increased 3% year on year, over the same period to 67,400 lifts.

In the first four months of the year, Group revenue rose 7.3% to €85.1 million, compared with €79.3 million in the same period last year. Operating costs (before depreciation & amortisation) were 1.6% lower at €74.8 million, versus €76.0 million the previous year, mainly reflecting the lower cost of fuel. Earnings before interest, tax, depreciation and amortisation (EBITDA) was €10.3 million compared with €3.3 million in the same period in 2014. The operating profit (before interest) was €4.4 million compared with an operating loss of €2.3 million in 2014. Net debt at the end of April was €45.5 million compared with €61.3 million at 31 December 2014.

Following the completion of an extensive tender process by Belfast Harbour Commissioners, ICG announces that it has been awarded the Services Concession for the operation of a combined container terminal at Victoria Terminal 3 (VT3) in Belfast Harbour. The agreement is for a period of 5 years with a further 3 year option. This will involve the consolidation of the two existing container terminals in Belfast (one of which, BCT, is operated by ICG) into one location at VT3. The process of consolidating the volume of both terminals, which will involve some once off costs, will commence shortly.

Interim Managment Statement 
Volumes (Year to date, 9 May 2015) 

                                           Change

Passengers: 418,600 +3%
Cars: 94,800 +8%
RoRo Freight: 91,800 +11%
Container Freight: (TEU) 100,000 -1%
Terminal Lifts: 67,400 +3%

Note: The comparative financial information has been restated to the 30 April 2014 which is on the same basis as the current year. In the previous year the financial information disclosed in the interim management statement for the first four months of the year was up to the 26 April 2014.

Published in Ferry

#ICGresults - The Irish Continental Group (ICG) which operates container operations and Irish Ferries, has recorded higher revenues and operating profits last year, as both passenger numbers and freight volumes increased, reports The Irish Times.

The ferry group, which also owns container shipping line Eucon as well as container terminals in Dublin and Belfast, has also highlighted a positive start to their freight business in 2014, despite the impact of "unprecedented" weather conditions.

Some 16 per cent of budgeted sailings have been cancelled since the start of the year, resulting "in some loss of discretionary passenger business and a disruption to freight business", the group said.

However, additional capacity from its new ferry, the Epsilon, helped counter the effect of the lost sailings, it added.

Passenger numbers have slipped 4 per cent so far in 2014, but roll-on-roll-off freight volumes have surged 18 per cent. For much more on this story click HERE.

 

Published in Ports & Shipping
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Royal St. George Yacht Club

The Royal St George Yacht Club was founded in Dun Laoghaire (then Kingstown) Harbour in 1838 by a small number of like-minded individuals who liked to go rowing and sailing together. The club gradually gathered pace and has become, with the passage of time and the unstinting efforts of its Flag Officers, committees and members, a world-class yacht club.

Today, the ‘George’, as it is known by everyone, maybe one of the world’s oldest sailing clubs, but it has a very contemporary friendly outlook that is in touch with the demands of today and offers world-class facilities for all forms of water sports

Royal St. George Yacht Club FAQs

The Royal St George Yacht Club — often abbreviated as RStGYC and affectionately known as ‘the George’ — is one of the world’s oldest sailing clubs, and one of a number that ring Dublin Bay on the East Coast of Ireland.

The Royal St George Yacht Club is based at the harbour of Dun Laoghaire, a suburban coastal town in south Co Dublin around 11km south-east of Dublin city centre and with a population of some 26,000. The Royal St George is one of the four Dun Laoghaire Waterfront Clubs, along with the National Yacht Club, Royal Irish Yacht Club (RIYC) and Dun Laoghaire Motor Yacht Club (DMYC).

The Royal St George was founded by members of the Pembroke Rowing Club in 1838 and was originally known as Kingstown Boat Club, as Kingstown was what Dun Laoghaire was named at the time. The club obtained royal patronage in 1845 and became known as Royal Kingstown Yacht Club. After 1847 the club took on its current name.

The George is first and foremost an active yacht club with a strong commitment to and involvement with all aspects of the sport of sailing, whether racing your one design on Dublin Bay, to offshore racing in the Mediterranean and Caribbean, to junior sailing, to cruising and all that can loosely be described as “messing about in boats”.

As of November 2020, the Commodore of the Royal St George Yacht Club is Peter Bowring, with Richard O’Connor as Vice-Commodore. The club has two Rear-Commodores, Mark Hennessy for Sailing and Derek Ryan for Social.

As of November 2020, the Royal St George has around 1,900 members.

The Royal St George’s burgee is a red pennant with a white cross which has a crown at its centre. The club’s ensign has a blue field with the Irish tricolour in its top left corner and a crown towards the bottom right corner.

Yes, the club hosts regular weekly racing for dinghies and keelboats as well as a number of national and international sailing events each season. Major annual events include the Volvo Dun Laoghaire Regatta, hosted in conjunction with the three other Dun Laoghaire Waterfront Clubs.

Yes, the Royal St George has a vibrant junior sailing section that organises training and events throughout the year.

Sail training is a core part of what the George does, and training programmes start with the Sea Squirts aged 5 to 8, continuing through its Irish Sailing Youth Training Scheme for ages 8 to 18, with adult sail training a new feature since 2009. The George runs probably the largest and most comprehensive programme each summer with upwards of 500 children participating. This junior focus continues at competitive level, with coaching programmes run for aspiring young racers from Optimist through to Lasers, 420s and Skiffs.

 

The most popular boats raced at the club are one-design keelboats such as the Dragon, Shipman 28, Ruffian, SB20, Squib and J80; dinghy classes including the Laser, RS200 and RS400; junior classes the 420, Optimist and Laser Radial; and heritage wooden boats including the Water Wags, the oldest one-design dinghy class in the world. The club also has a large group of cruising yachts.

The Royal St George is based in a Victorian-style clubhouse that dates from 1843 and adjoins the harbour’s Watering Pier. The clubhouse was conceived as a miniature classical Palladian Villa, a feature which has been faithfully maintained despite a series of extensions, and a 1919 fire that destroyed all but four rooms. Additionally, the club has a substantial forecourt with space for more than 50 boats dry sailing, as well as its entire dinghy fleet. There is also a dry dock, four cranes (limit 12 tonnes) and a dedicated lift=out facility enabling members keep their boats in ready to race condition at all times. The George also has a floating dock for short stays and can supply fuel, power and water to visitors.

Yes, the Royal St George’s clubhouse offers a full bar and catering service for members, visitors and guests. Currently the bar is closed due to Covid-19 restrictions.

The Royal St George boathouse is open daily from 9.30am to 5.30pm during the winter. The office and reception are open Tuesdays to Fridays from 10am to 5pm. The bar is currently closed due to Covid-19 restrictions. Lunch is served on Wednesdays and Fridays from 12.30pm to 2.30pm, with brunch on Saturdays and Sundays from noon to 3pm.

Yes, the Royal St George regularly hosts weddings and family celebrations from birthdays to christenings, and offers a unique and prestigious location to celebrate your day. The club also hosts corporate meetings, sailing workshops and company celebrations with a choice of rooms. From small private meetings to work parties and celebrations hosting up to 150 guests, the club can professionally and successfully manage your corporate requirements. In addition, team building events can utilise its fleet of club boats and highly trained instructors. For enquiries contact Laura Smart at [email protected] or phone 01 280 1811.

The George is delighted to welcome new members. It may look traditional — and is proud of its heritage — but behind the facade is a lively and friendly club, steeped in history but not stuck in it. It is a strongly held belief that new members bring new ideas, new skills and new contacts on both the sailing and social sides.

No — members can avail of the club’s own fleet of watercraft.

There is currently no joining fee for new members of the Royal St George. The introductory ordinary membership subscription fee is €775 annually for the first two years. A full list of membership categories and related annual subscriptions is available.

Membership subscriptions are renewed on an annual basis

Full contact details for the club and its staff can be found at the top of this page

©Afloat 2020

RStGYC SAILING DATES 2024

  • April 13th Lift In
  • May 18th & 19th Cannonball Trophy
  • May 25th & 26th 'George' Invitational Regatta
  • July 6th RSGYC Regatta
  • August 10th & 11th Irish Waszp National Championships
  • August 22- 25th Dragon Irish National Championships / Grand Prix
  • Aug 31st / Sept 1st Elmo Trophy
  • September 6th End of Season Race
  • September 7th & 8th Squib East Coast Championships
  • September 20th - 22nd SB20 National Championships
  • September 22nd Topper Ireland Traveller Event
  • October 12th Lift Out

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